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Configurable Lockbox - one payment for multiple invoice items

Banks will receive a single check payment for multiple invoices. For Canadian clients this can be up to 50% of all payments.

 

The solution or way to handle this scenario is through the file format or layout.  The mock up the file layout on the left that’s what is currently in use.  This layout creates a payment per row.  So it doesn’t accurately create the 1 payment received but it creates 2 payments, one for each invoice.

 

But if it was structured in a way like on the right, then you can see that 1 Check payment for a total of $4162.75 applies to 2 invoices.  So that would correctly create 1 payment record in Zuora that would then apply to 2 invoices.

 

 

Zuora Invoice Number

Payment Amount

Check Number

Payment Date

 

Check Number

Payment Amount

Payment Date

Zuora Invoice Number

 

INV00708401

395.48

123

10/2/2017

 

123

4162.75

10/2/2017

INV00708401

(invoice balance is 395.48)

INV00707646

3767.27

123

10/2/2017

   

 

INV00707646

(invoice balance is 3767.27)

INV00709861

464.86

456

10/2/2017

 

456

5267.97

10/2/2017

INV00709861

(invoice balance is 464.86)

INV00710197

423.23

456

10/2/2017

   

 

INV00710197

(invoice balance is 423.23)

INV00707548

4379.88

456

10/2/2017

   

 

INV00707548

(Invoice balance is 4379.88)

INV00707705

6930.77

789

10/2/2017

 

789

6930.77

10/2/2017

INV00707705

1 payment for 1 invoice

                                                           

2 Comments
Zuora Staff
Zuora Staff

Additional logic for application of payment has been requested by Sourcemedia.

 

Guru

 Thank you @Jim for entering in this use case.  I also spoke to Judy Lee at Yext and her company also has this need and agreed it's important.  It's important that we record payments accurately based on how the customer sends them to us.  If the customer sends 1 payment for $1000 that covers off multiple invoices, we need to show 1 payment record for $1000 referencing the customer check number and then apply that 1 payment to multiple invoices.  If we create 2 payment records for $500 each that is inaccurate.  That will not tie back to what the customer has in their system.  It's basic accounting rules.

 

This needs to be accommodated.